Sources inform ''Globes'' that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) and the Technion Israel Institute of Technology are negotiating to set up a joint stem cell venture at an investment of several million dollars. The venture will create a number of stem cell lines using know-how developed by Jacob Itskovitz-Eldor of the Technion, who runs one of the few laboratories in the world that works with the culture of embryonic stem cell lines.
Embryonic stem cells can replicate rapidly over an extended period in laboratory conditions. Current stem cell lines are mainly used for research purposes. They can be used to create various tissues and monitor body development and the effects of pharmaceuticals. They can also serve as a treatment in their own right. Brainstorm Cell Therapeutics Ltd. (Bulletin Board:BCLI), Pluristem Life Systems Ltd. (Bulletin Board:PLRS), and Gamida-Cell Ltd. are working in this direction.
Teva is presumably interested in both uses for stem cells as well as the possibility of commercializing stem cell lines to third parties.
Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007
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